Fresenius SE: terminates merger agreement with Akorn

(CercleFinance.com) - German healthcare conglomerate Fresenius said on Sunday that it has terminated its merger agreement with Akorn after the US pharmaceutical company was unable to meet several closing conditions.


Fresenius said its decision is based on material breaches of FDA data integrity requirements relating to Akorn's product development found during an independent investigation.

Fresenius said that it has offered to delay its decision in order to provide Akorn with an opportunity to complete its own investigation, although Akorn has declined that offer.

In its own press release, Akorn disagrees with Fresenius' accusations and says the investigation was not a condition to closing.

Separately, and ahead of its first-quarter results, which are due on 3 May, Fresenius confirmed its guidance for 2018, still expecting a sales growth of 5% to 8% at constant currencies this year.

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